LARSEN & TOUBRO BUILT its reputation as an engineering and construction company. But it is now a lot more than that, with a strong presence in heavy engineering, thermal power plants, defence, information technology, financial services, real estate and smart city projects. And the company is preparing itself for changes in the ecosystem.
S.N. Subrahmanyan, who succeeded A.M. Naik as chairman and managing director on October 1, said in his first letter to the staff that the world was going through massive changes and L&T must be ready for it. Subrahmanyan had been groomed by Naik for almost a decade to steer the company into the future. But that future could well be very different from what the company imagined a while ago. It is restructuring old businesses like financial services and thermal power plants, and embracing new areas like renewable energy and defence.
L&T continues to grow in its core engineering and construction space. Its order inflows last quarter surged 57 per cent to ₹65,520 crore and its order book stood at ₹4.12 lakh crore at the end of June 30, 2023, an all-time high. International orders comprised 42 per cent of total order inflows in the June quarter.
Renewable energy will be a big focus area in this next wave of growth. “Given the compulsions of dealing with climate change and fully aware of the responsibility to contribute to a sustainable planet, the company has identified areas to work around green energy both as a manufacturer of equipment as well as an EPC (engineering, procurement and construction) participant,” said R. Shankar Raman, chief financial officer of L&T.
Denne historien er fra October 15, 2023-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 15, 2023-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The female act
The 19th edition of the Qadir Ali Baig Theatre Festival was of the women and by the women
A SHOT OF ARCHER
An excerpt from the prologue of An Eye for an Eye
MASTER OF MAKE-BELIEVE
50 years. after his first book, Jeffrey*Archer refuses to put down his'felt-tip Pilot pen
Smart and sassy Passi
Pop culture works according to its own unpredictable, crazy logic. An unlikely, overnight celebrity has become the talk of India. Everyone, especially on social media, is discussing, dissing, hissing and mimicking just one person—Shalini Passi.
Energy transition and AI are reshaping shipping
PORTS AND ALLIED infrastructure development are at the heart of India's ambitions to become a maritime heavyweight.
MADE FOR EACH OTHER
Trump’s preferred transactional approach to foreign policy meshes well with Modi’s bent towards strategic autonomy
DOOM AND GLOOM
Democrats’ message came across as vague, preachy and hopelessly removed from reality. And voters believed Trump’s depiction of illegal immigrants as a source of their economic woes
WOES TO WOWS
The fundamental reason behind Trump’s success was his ability to convert average Americans’ feelings of grievance into votes for him
POWER HOUSE
Trump International Hotel was the only place outside the White House where Trump ever dined during his four years as president
DON 2.0
Trump returns to presidency stronger than before, but just as unpredictable
